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Iveta is 44 years old and lives in the Vani District with her son. She is widowed and provided with a small pension. Iveta requested loans from local financial institutions several times for a family business start-up, but without any success. All her loan requests were rejected because of low income and the family’s poor living conditions.

Iveta earns a monthly income working in cleaning services, but it is hardly enough to buy food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Iveta requested a loan from Credo to start a family business. Her loan request was approved within the framework of a new joint initiative by Kiva and Credo. With the received credit, Iveta will trade in clothing. She plans to buy clothing from wholesalers and sell it in Vani district. The new business, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.

This start-up loan program envisages providing business start-up and re-startup credits with soft conditions to country rural poor. Poor rural families do not have access to credit products, being regarded as “high risk borrowers” because of low income.

Additional Information

More information about this loan

This loan is part of Credo's startup loan program targeting particularly vulnerable clients who live at the subsistence level and have been unable to obtain credit due to lack of income from an existing business. This program offers them a longer repayment term and an annual interest rate that is 5% lower than the standard interest rate. By funding this loan, you are supporting a program that gives borrowers a second chance to start and grow small businesses. This has the potential to alleviate the effects of poverty, significantly improving borrowers' incomes and their families' quality of life. Learn more about Credo's startup loan program on the Kiva Blog.

About LLC Micro Finance Organization Credo

LLC Credo (Credo) is a microfinance organization in Georgia that provides sustainable credit services to alleviate poverty in rural areas, including business loans, agriculture loans, household loans, crop insurance and more. Kiva lenders’ funds are used to help the organization expand its outreach to even more entrepreneurs, farmers and households in remote areas.

About Georgia

  • $4,600
    Average annual income
  • 48
    View loans »
    Georgia Loans Fundraising
  • $7,020,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $600 helped Iveta to purchase clothing for sale.
100% repaid
Repayment Term
16 months (Additional Information)
Repayment Schedule
Nov 14, 2012
Nov 26, 2012
Currency Exchange Loss:
Aug 17, 2013